Yes, asking people what they'd like can make them feel thought of and special!
To ask a contact for some gift ideas:
Tap a person from your circles
Tap the green note/bell button
Select “Gift Idea” from the category list
Tap "Ask For Suggestions" at the bottom of the screen
Tap the tab that mentions your person’s name
Edit the prompt
Tap “Copy Message & Link”
Choose a way to send the link